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Trey Monson starts a merchandising business on December 1 and enters i (3).pdf

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Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $25 each. Of the units sold, 8 are from the December 7 purchase and 7 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Purchases on December 7 10 units @ $11.00 cost Purchases on December 14 20 units @ $17.00 cost Purchases on December 21 15 units @ $19.00 cost.

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Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Monson uses a perpetual inventory system. Also, on December 15, Monson sells 15 units for $25 each. Of the units sold, 8 are from the December 7 purchase and 7 are from the December 14 purchase. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Purchases on December 7 10 units @ $11.00 cost Purchases on December 14 20 units @ $17.00 cost Purchases on December 21 15 units @ $19.00 cost

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